Macro

National Income

Hard

Which of the following is a part of Domestic product of India ?

(A) Gifts given by employer to his employees

(B) Profits earned by branches of country's bank in other countries

(C) Profits earned by foreign companies in India

(D) Purchase of goods by foreign tourists

Choose the correct answer from the options given below :

(A) and (B) Only

(B) and (C) Only

✅ Correct Option: 4

Domestic product includes all production within the domestic territory. Gifts by employer to employees are transfer payments, not production. Profits of Indian banks abroad are part of national product, not domestic. Profits of foreign companies in India are earned within domestic territory, so included in domestic product (C). Purchase by foreign tourists within India is also part of domestic product (D). Answer: (C) and (D) Only.

2026: 21 May Shift 2

An economy produces two goods, bread and wheat. A representative consumer buys 10 units of bread and 50 kg of wheat in a year. In the year 2023 the price of per bread was Rs 20 and wheat per kg was Rs 40. Suppose the price of both goods has gone up to Rs. 30 per bread and Rs. 50/kg wheat in the year 2024. Calculate the Consumer Price Index (CPI).

2025: 30 May Shift 1

Match List-I with List-II

List-I	List-II
(A) GDP at constant price	(i) known as Nominal GDP
(B) GDP at current price	(ii) Increases only when there is increase in the quantum of output in the economy.
(C) Welfare of the people	(III) known as earned income
(D) Factor income	(IV) Measured in terms of the availability of goods and services

Choose the correct answer from the options given below:

2025: 13 May Shift 2

What government planned for different economic activities is an application of which of the following?

2026: 11 May Shift 2

On the basis of uses the ___________________ nature makes the good final.

2025: 30 May Shift 1

Calculate the value of Real GDP for the year 2023

Year	Output(units)	Market Price (in Rs)
2022	150	10
2023	200	20

2026: 15 May Shift 1

Which of the following are limitations of using GDP as a sole indicator of welfare?

A. Public park used for recreation activities.

B. It does not account for income equality.

C. It does not evaluate the value of unpaid household work.

D. It can be increased due to activities which may be harmful to the environment.

Choose the correct answer from the options given below:

Solution

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